Robinhood's Q1 earnings beat estimates with revenue growth and 24-hour trading launch.
TL;DR
Robinhood beats revenue estimates for Q1 2022, reporting $441 million in revenue, as the US Federal Reserve's rapid rate hikes boosted the online brokerage's interest income. The company also announced plans to launch 24-hour trading for five days a week. However, Robinhood's mainstay retail trading arm saw customer engagement dwindle over the past year amid market volatility, resulting in a decline in monthly active users to 11.8 million from 15.9 million a year earlier.
- Robinhood beats revenue estimates as rate hikes bolster interest income Reuters
- Robinhood to Launch 24-Hour Trading on Weekdays in Stocks and ETFs - WSJ The Wall Street Journal
- Robinhood Stock Rises After Earnings. Its Hottest Product Now Is Cash. Barron's
- Robinhood Q1 Earnings Highlights: Revenue And EPS Beat, 24-Hour Trading Launch Featuring Select Stocks Su Benzinga
- Robinhood jumps in extended trade after rev beat, 24-hour trading announcement Yahoo Finance
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